Two years ago, Apple Inc. (NASDAQ:AAPL)’s stock received the biggest price target of its lifetime from Brian White of Topeka Capital markets, who said it could rise to as high as $1001, an value that was the highest on the Wall Street for the giant tech company and represented a 70% premium on the real price at that time. Morgan Stanley (NYSE:MS)’s Katy Hubert at that point also weighed into White’s sentiments, stating that Apple’s stock price could climb to highs of $960 a share, giving it a market cap of almost $1 trillion, as CNBC reported in 2012.
Apple Inc. (NASDAQ:AAPL) is currently valued at $572.44 billion. Therefore Apple’s shareholders could be much happier if the prediction of the stock price spelt out by White and Hubert was accurate, which would have nearly doubled the company’s market cap.
The growth in China, which represented a huge market, could also accelerate Apple’s ability to reach the $1000 price target, equal to more than $140 following the recent stock split. Regulations and scrutiny in China continue to make it extremely difficult for Apple Inc. (NASDAQ:AAPL) to reach such levels. If Apple was to be given a fair playing ground and support like other Chinese companies in China, then the dream could become a reality.
The sentiments of the two analysts came as Apple Inc. (NASDAQ:AAPL) was trading up by 44% YTD, two years back, the growth being influenced by the massive sales of iPhones. Apple’s already surpassed Exxon Mobil Corporation (NYSE:XOM) as the most valuable company in the world, outlining its potential in terms of growth going forward.
Apple Inc. (NASDAQ:AAPL) market moves that time had many investors thinking that the company could be the first one to reach the market cap of $1 trillion mark. A milestone that was only thought of in the 1990’s for the companies like Cisco Systems, Inc. (NASDAQ:CSCO) and Microsoft Corporation (NASDAQ:MSFT).
This is not the first time that White has surprised the investor community with such a huge price target especially on Apple Inc. (NASDAQ:AAPL); in the past also he had been quoted issuing a price target of $666. His other previous high quote was $800 with a low of $270.